China's foreign minister described the first phase trade agreement between Beijing and Washington as "good news for all parties".

"The agreement will bring stability to global trade, help strengthen confidence in the world economy," Chinese Foreign Minister Wang Yi said during his visit to Slovenia today, but added that Washington and North Kinh still has a lot of problems to solve.

"China never thought that the use of tariffs was the right measure, because there was no winner in the trade war," Wang said, adding that Beijing was opposed to protectionism.

US President Donald Trump yesterday announced a first-stage trade agreement with China after the two sides agreed on a number of terms since October. The signing of the document is expected to take place in early January next year. .

Accordingly, the US tax order with 160 billion USD of Chinese goods expected to take effect on December 15 will stop, the tax rate of 25% with 250 billion USD of Chinese goods will be unchanged, 15% with 120 billion VND. Commodity USD dropped to 7.5%. In return, Beijing agreed to buy large quantities of American farm produce and other goods and services.

The US-China trade war lasted more than a year with "tit-for-tat" taxes, causing the world's two biggest economies to harm and threaten global economic growth. The source of the conflict comes from the United States accusing Chinese trade activities of unfairly favoring domestic businesses, forcing foreign companies to transfer technology, steal intellectual property and manipulate currencies. .